OSLO, NORWAY – 28 APRIL 2020 – Biometric fintech company Zwipe is pleased to announce that Asia Credit Card Production Ltd. (ACC), a specialist smart card manufacturer based in Hong Kong, has chosen to partner with Zwipe in order to offer and roll out a range of biometric payment specific products and services including cards, wearables, enrolment and customer onboarding solutions.
ACC has an extensive smart card product portfolio with a large client base in a wide range of industries worldwide. ACC has begun integrating Zwipe’s biometric inlay platform into their smart card production facility in order to prepare for the launch of Zwipe Pay ONE when it becomes available later this year.
“We strongly believe that biometric payment cards are the future and there is a strong market for payment cards in the fast-moving Asia Pacific region even in the face of surging smartphone use. Working now to integrate Zwipe’s technology, we are confident that we will have a truly disruptive offering that will enable us to significantly grow our banking customer base in the region and beyond,” said Gary Li, Managing Director of Asia Credit Card Production Ltd.
As an essential manufacturer in the heart of APAC, ACC is now working at full capacity. On the back of their commitment to issuing biometric payment cards this year, the company is in the process of completing the application process for full card scheme certification to expand its portfolio of offerings to leading issuers across the region.
“We continue to build our global portfolio of customer relationships, which will be instrumental in the roll-out of future products. The partnership with ACC will further broaden our access to the Asian markets,” said André Løvestam, CEO of Zwipe.
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About Asia Credit Card Production LTD
ACC is a leading professional RFID card and smart card manufacturer. Headquartered in Hong Kong and production plant in Shenzhen, China. With over 20 years of experience in card industry, ACC is offering top quality products and services compliant to industry standards and customer requirements. We continuously strengthen partnerships with our strategic alliances and industry leaders to fulfill our commitment to the industry.
For more information contact: James Duran, +852 2389 3393 james@asia-cc.com.hk
OSLO, NORWAY– 23 APRIL 2020 – The Nomination Committee of Zwipe AS has proposed the nomination of two leading payment and technology professionals to its board of directors to be voted upon at its upcoming Annual General Meeting to be held virtually on 14 May 2020.
Mr. Diderik Schonheyder is a recognized authority on payment products, services and systems development with more than 35 years’ experience as an executive, advisor and investor in the information technology and telecommunications industry. He previously served in global roles at Visa International and MasterCard, and currently operates a consultancy company focused on payment ecosystems.
Mr. Pål Eivind Vegard is a seasoned entrepreneur, investor, and board member who has been active for over three decades in the telecommunications and software industries in Europe. He established Tele1 Europe in Norway in 1998 before going on to fund several companies. Through his investment company, Concito, he was one of the early backers of Zwipe and he served on Zwipe’s board from 2011 to 2016. He was also an early investor and chairman of the board in Onecall, today a successful mobile brand owned by Telia.
In addition to Diderik Schonheyder and Pål Eivind Vegard, the Nomination Committee proposes that Dorian Barak, Johan Biehl, Dennis Jones and Jörgen Lantto (Chairman) are re-elected as Directors of the Board.
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OSLO, NORWAY– 22 April 2020 – Biometric fintech company Zwipe is pleased to announce that it has signed an agreement with Toppan Forms Card Technologies Limited, the strongest local card manufacturer in the Hong Kong and Macau region, to collaborate on the product positioning, development and commercialization of biometric payment cards.
Toppan Forms Card Technologies Limited has an extensive customer network with the large banks in Hong Kong and Macau, offering a wide range of data management and card solutions. The company is an authorized VISA, MasterCard, China UnionPay, JCB and AMEX card manufacturer in Hong Kong. Using the strengths it has obtained in the data management area, the company is working to create new value as a digital hybrid company that is able to provide products and services with security elements.
“Biometric payment cards can be a lucrative product for us considering the types of banks we have as customers, with many high net worth clients. We are eager to integrate Zwipe’s technology including Zwipe Pay ONE, providing a premium status product which strengthens the contactless payment experience enabling more secure and convenient options for cardholders thanks to its enhanced biometric features,” said Mr. Joseph Hui, Deputy Managing Director of Toppan Forms Card Technologies Limited.
“Our collaboration with Toppan Forms Card Technologies Limited is another important step for Zwipe as we prepare to roll out our Zwipe Pay ONE platform. Working with strong local players connected to leading issuers in their markets will be instrumental in enabling the scaling of our offering going forward,” said André Løvestam, CEO of Zwipe.
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About Toppan Forms Card Technologies Limited.
Toppan Forms (Hong Kong) Group founded Toppan Forms Card Technologies Limited (TFCT) in 1982 as its first step of diversification in becoming a trusted total service provider. We provide a variety of card solutions, card issuance systems and services for the ever-expanding IT market. In light of our company mission to be an innovation frontier, the company enriches the integrated IT solutions offering in terms of Robotic Solutions, Access Control and e-Application. The company is working to create new value as a Digital Hybrid Company that is able to provide products and services from both the analog and digital aspects. To visit our website www.toppanforms.com
For more information, please contact us +852 2519 6388 contact@toppanforms.com
OSLO, NORWAY – 20 April 2020 – Zwipe, a leading biometric fintech company, and IDEX Biometrics, a leading provider of fingerprint identification technologies, announce that they have signed an agreement that will see Zwipe combining IDEX Biometrics sensor products with the Zwipe Pay ONE platform to enable a complete system solution for biometric payment cards.
Zwipe Pay ONE is a technology platform based on a single-chip biometric secure element with operating system and relevant proprietary software. The result will be a compelling biometric payment card offering to card manufacturers in the global market.
The two companies also plan to formalize cross-licensing of intellectual property and a joint marketing approach as Zwipe Pay ONE with IDEX sensor becomes available for piloting.
“We are excited to work closely with Zwipe, a pioneer in the biometric payment card market. We believe the combination of Zwipe Pay ONE with IDEX next generation sensor has strong potential to become a market leading solution. IDEX is providing fingerprint sensors and technical expertise towards the shared goal of accelerating adoption of biometric payment cards,” said Vincent Graziani, CEO of IDEX Biometrics.
“IDEX Biometrics has developed a next-generation fingerprint sensor. We are ideally positioned to take a leading position in the biometric payments market, providing smart card manufacturers with a superior offering in terms of energy efficiency and biometric performance at industry-leading manufacturing costs", said André Løvestam, CEO of Zwipe.
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COURBEVOIE, FRANCE and OSLO, NORWAY– 08 April 2020 –
Following the exclusive partnership and distribution agreement signed between IDEMIA and ZWIPE, the two companies announce that first samples of the new chip have now arrived for further verification and qualification with the first power-on successfully executed. Therefore, the new platform will now progress to the next stages of developments and will be able to meet expected demand from card issuers with a first launch on the market as from second half 2020 followed by a mass production of biometric cards during 2021. IDEMIA and IDEX have signed an agreement by which IDEX will supply the card’s sensors for this next generation of biometric payment cards. This agreement deepens a long-standing collaboration between IDEMIA and IDEX to develop biometric payment cards including an IP licensing agreement signed in Oct 20193. By teaming up with ZWIPE and IDEX to offer a disruptive biometric payment card platform that will radically reduce biometric payment card costs, IDEMIA is driving the growth of the biometric cards market and enables an accelerated path to mass volumes, which will ultimately benefit the issuers and users of cards.
Amanda Gourbault, IDEMIA Executive Vice President Financial Institutions says: “This achievement of this key milestone demonstrates that our next F.CODE generation biometric card development is being executed according to plan allowing a pilot launch second half 2020. Together with our business partners we are showcasing our best-in-class expertise in designing and manufacturing biometric-based payment cards”.
André Løvestam, CEO of ZWIPE says: ”We are pleased to see this progress and we strongly believe that bringing forward the new platform together with IDEMIA will be a major catalyst in creating long term shareholder value and provide the technological leap needed to shape the future of the biometric payment card market and to drive commercial success for ZWIPE. The progress up until now has further strengthened our conviction that this project will meet not only the time schedule, but also the targeted unit cost reductions on biometric payment cards.”
Vince Graziani, CEO of IDEX commented: “We are proud to have been selected by IDEMIA and look forward to continue collaboration with this leader in authentication solutions, and to initiate collaboration with ZWIPE to bring biometric payment cards to the mass market. This award by one of the world’s largest card manufacturers is a validation of our off-chip product design that enables high performance at a disruptive cost point.”
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2: manufacturers of payment cards, wearables and other payment solutions, and their suppliers.
OSLO, NORWAY – 25 March 2020 – Biometric technology company Zwipe is pleased to announce that it has been selected by Masria Digital Payments (MDP), one of the largest smart card manufacturers and digital payments providers in the Middle East and Africa to deliver biometric payments solutions to enhance MDP’s innovation product portfolio.
Zwipe will support MDP in integrating and rolling out biometric payment cards and eventually biometric enabled wearable devices to a region that has expressed significant interest in the technology.
“To continue MDP’s long tradition of technology leadership, we are integrating Zwipe’s current biometric payment platform now to educate the market and get prepared for Zwipe Pay ONE. We are confident that, when that becomes available, we will have banks across the region ready to take the next natural step in payment cards with us”, says Ahmed Nafie, EVP of MDP.
The Middle East and North Africa is seeing great interest in biometric payment solutions, especially biometric payment cards.
“Zwipe is thrilled to win a new strategic customer wanting to pilot our current product platform to pave the way for early deployment of our future offering, Zwipe Pay ONE. Working together we can unlock many opportunities in a part of the world that is proving to be a first mover when it comes to biometric payments” says André Løvestam, CEO of Zwipe.
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About MDP
Masria Digital Payments (previously Masria Card S.A.E) is Africa's leading smart card solutions provider with a regional presence spanning 35 countries and 3 continents. Building on its vast sector experience, MDP has consistently introduced the latest technology in cards, payment security and smart applications to the Middle East and African markets. MDP also provides its partners with a complete card offering ranging from card production, personalization, issuance and fulfilment as a service or as a solution. MDP is the only end to end fully certified African payments solutions provider to offer a full card services, solutions, processing and digital payment suites to clients in the financial, government and retail sector under one roof.
For more information, please visit www.mdp-eg.com/
OSLO, NORWAY - 18 March 2020 - Zwipe’s CEO André Løvestam presented Zwipe at a RedEye Investor event in Sweden on 12 March 2020 where he addressed the ongoing global Covid-19 situation and its impact on the company’s operations: “To address the escalating situation regarding the Corona virus, it is important to acknowledge the global impact it is having. However, we want to stress that Zwipe carries on. We are a lean global team committed to our targets and, as we have done before, we are adapting quickly and effectively to the changing environment we operate in. Projects are ongoing, we have suspended travel, we are doing more video conferencing and ultimately continuing to do business as best we can in the face of this new adversity.”
The Zwipe team spans across Europe, the United States and Asia with more than 25% working permanently from home offices. The company has moved quickly to enact travel bans and new working standards enabling our staff to work from home offices as of 13 March 2020.
Commenting on the company and its plan to work through the current global situation, André Løvestam said “we are committed to the safety and security of our team members and their families and we are monitoring the situation closely. Some of our partners in China and Europe have been impacted, however, most of our ongoing efforts are not impeded by the current situation and we are confident that we will be able to weather the current downturn and look forward to share progress as we go forward.”
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OSLO, NORWAY – 28 February 2020 – Zwipe AS today publishes its half-year financial report for 2H 2019.
The report does not contain inside information. Zwipe’s audited Annual Report 2019 was released on 26 February 2020.
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OSLO, NORWAY – 26 February 2020 – Zwipe AS today publishes its annual report 2019. Please find the report attached.
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This is information that Zwipe AS is obliged to make public pursuant to the continuing obligations of companies admitted to trading on Merkur Market, Nasdaq First North Growth Market and the EU Market Abuse Regulation. The information was submitted for publication, through the agency on the contact person set out below 08:00 CET on 26 February 2020
Oslo, Norway – 9 March 2025
On March 6, 2025, Oslo District Court decided to declare the Company bankrupt upon application by Zwipe.
Zwipe AS (“Zwipe” or the “Company”), org.nr 994553607, is admitted to trading on the Nasdaq
Stockholm Aktiebolag (the “Exchange”) on the trading platform Nasdaq First North Growth Market. According to section 8.2.7 of the Nasdaq First North Growth Market Rulebook, the Exchange may decide to delist an issuer's financial instruments if the issuer has been declared bankrupt.
Against the above background, the Exchange has decided that the shares (ticker ZWIPE, ISIN code NO0010721277) and warrants (short name ZWIPE TO 2, ISIN code NO0013409763) in Zwipe shall be delisted from trading on Nasdaq First North Growth Market with immediate effect.
This stock exchange release was published by Hugo Petit, CFO, on 9 March 2025 at 21:30 CET.
For further information contact:
Robert Puskaric, CEO of Zwipe
E-mail: ir@zwipe.com
This information is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo (Euronext Growth Oslo Rule Book - Part II) and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se.
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit:
http://www.zwipe.com
Oslo, Norway – 17 February 2025
The Board of Directors of Zwipe AS has today decided to file for bankruptcy with the Oslo district court, “Tingsretten”. This decision follows a thorough review of the company’s financial situation and the determination that the company is no longer able to meet its obligations towards its creditors.
Despite extensive efforts to restructure operations and secure continued business activities, it has not been possible to achieve a financially sustainable solution. Further, as communicated on 14 February, the discussions held with third parties that were intended to secure continued operation have been unsuccessful. The Board therefore sees no alternative but to file for bankruptcy.
"It is with great regret that we are forced to make this decision today. We have done everything in our power to find alternative solutions to secure continued operations, but we have not succeeded. Our focus is now to ensure an orderly process for all affected parties," says Jörgen Lantto, chairman of Zwipe AS.
A bankruptcy trustee will be appointed by the district court and will be responsible for managing the further process, including handling the company’s assets and obligations.
This stock exchange release was published by Hugo Petit, CFO, on 17 February 2025 at 15.05 CET.
For further information contact:
Robert Puskaric, CEO of Zwipe E-mail: ir@zwipe.com
This information is subject to the disclosure requirements in article 17 of the Regulation (EU) 596/2014 (the Market Abuse Regulation) and section 5-12 of the Norwegian Securities Trading Act.Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se.
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit:
Oslo, Norway – 14 February 2025
Reference is made to the stock exchange announcement published by Zwipe AS (the "Company") on 28 January 2025 regarding the discussions which were not unlikely to provide the Company with necessary financing to avoid insolvency.
The board has today concluded that these discussions have been terminated without a positive result. Therefore, the board is currently assessing the Company’s financial situation and whether there is a basis for further operations.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and section 5-12 of the Norwegian Securities Trading Act.
This stock exchange release was published by Hugo Petit, CFO, on 14 February 2025 at 19.00 CET.
For further information contact:
Robert Puskaric, CEO of Zwipe E-mail: ir@zwipe.com
This information is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo (Euronext Growth Oslo Rule Book - Part II) and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se. The information was submitted for publication, through the agency of the contact person set out below, at 07:00 CET on 20 January 2025.
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit:
OSLO, NORWAY – 10 February 2025 – Zwipe AS today announced a change in the publication date of its H2 report as well as its Annual Report 2024. The date for the H2 report, originally scheduled for release on February 20, will now be published on March 28. The Annual Report, originally scheduled for publication on 25 March 2025, will be published on 25 April 2025.
For further information contact:
Robert Puskaric, CEO of Zwipe
E-mail: ir@zwipe.com
This information is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo (Euronext Growth Oslo Rule Book - Part II) and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se. The information was submitted for publication, through the agency of the contact person set out below, at 08:00 CET on 12 February 2025.
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit:
http://www.zwipe.com
Oslo, Norway - 28 January 2025
Reference is made to the stock exchange announcement published by Zwipe AS (the "Company") earlier today regarding the decision from the Oslo Chamber of Commerce dated 27 January 2025 at 23:25 CET in the payment dispute between IDEX Biometrics ASA and Zwipe AS. The Company has now held the extraordinary board meeting as referred to in said stock exchange announcement.
The board has discussed whether it can continue its operations in the light of the claim payable based on the decision from the Oslo Chamber of Commerce. Based on the board’s assessment, the Company is currently in discussions which are not unlikely to provide the Company with necessary financing to avoid insolvency. It is, thus, the board’s opinion that the Company currently has a basis for further operations. The Company will inform the market again when it knows the outcome of said discussions.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and section 5-12 of the Norwegian Securities Trading Act.
This stock exchange release was published by Hugo Petit, CFO, on 28 January 2025 at 18.22 CET.
For further information contact:
Robert Puskaric, CEO of Zwipe
E-mail: ir@zwipe.com
This information is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo (Euronext Growth Oslo Rule Book - Part II) and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se. The information was submitted for publication, through the agency of the contact person set out below, at 07:00 CET on 20 January 2025.
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit:
http://www.zwipe.com
Oslo, Norway – 28 January 2025
In the prospectus published by Zwipe AS on 7 November 2024, Zwipe AS informed that Zwipe AS was in arbitration concerning a warranty dispute with IDEX Biometrics ASA at the Oslo Chamber of Commerce.
On 27 January 2025, at 23:25 CET, the Oslo Chamber of Commerce rendered its decision in the payment dispute between IDEX Biometrics ASA and Zwipe AS. The arbitration tribunal has ordered Zwipe AS to pay USD 702,000 (excluding VAT) to IDEX Biometrics ASA, plus late payment interest and legal costs. Zwipe AS is in the process of convening an extraordinary board meeting to discuss the feasibility of paying the award and continuing its operations. The outcome of the extraordinary board meeting will be announced in a subsequent press release.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and section 5-12 of the Norwegian Securities Trading Act.
This stock exchange release was published by Hugo Petit, CFO, on 28 January 2025 at 11:56 CET.
For further information contact:
Robert Puskaric, CEO of Zwipe
E-mail: ir@zwipe.com
This information is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo (Euronext Growth Oslo Rule Book - Part II) and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se. The information was submitted for publication, through the agency of the contact person set out below, at 07:00 CET on 20 January 2025.
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit:
http://www.zwipe.com
OSLO, NORWAY – 20 January 2025 – Reference is made to the stock exchange announcement published by Zwipe AS (the "Company") on 23 December 2024 regarding the final allocation of a rights issue of units, consisting of shares and warrants of series TO2 (the "Warrants"), with preferential rights for existing shareholders raising gross proceeds of approximately NOK 40 million (the "Rights Issue").
The Rights Issue resulted in the issuance of 397,213,376 Warrants, of which 166,364,465 will be delivered to the investors that participated in the Rights Issue, while the remaining 230,848,911 Warrants will be delivered to the Company and will not be exercised. The issuance of Warrants exceeding the amount delivered to shareholders is due to compliance with Section 11-12 of the Norwegian Private Limited Liability Companies Act, which requires the general meeting minutes to specify an exact number of Warrants to be issued. At the time of the extraordinary general meeting, it was not possible to predict the subscription rate of the Rights Issue. As a result, the Company's extraordinary general meeting resolved to issue the maximum number of Warrants that could be issued in the event of full subscription in the Rights Issue, and that any surplus Warrants are to be subscribed for and returned to the Company.
All 397,213,376 Warrants will be listed and tradable on Euronext Growth Oslo for a period commencing today, 20 January 2025 and ending at 16:30 (CET) on 10 March 2025. In addition, the Warrants will be listed on Nasdaq First North Growth Market Sweden for a period commencing today, 20 January 2025 and ending at 16:30 (CET) on or about 10 March 2025.
One (1) Warrant entitle to the subscription of one (1) new share in the Company. The subscription price upon exercise of the Warrants shall be NOK 0.10 per share.
Holders of Warrants may either sell their Warrants or use them to subscribe for shares in the Company, in both cases within the deadlines stated above. As such, the Warrants may have a financial value for the holders, depending on the prevailing market price for the shares in the Company. If the Warrants are not sold or exercised within the respective deadlines, the Warrants will lapse with no compensation to the holders.
For more information pertaining to the Warrants, please see the prospectus prepared in connection with the Rights Issue (the "Prospectus"), which is available on the Company's website www.zwipe.com and on the Swedish Financial Supervisory Authority's website, www.fi.se.
Subscription and Guarantee Commitments:
In connection with the Rights Issue, the Company received subscription commitments from board members Jörgen Lantto and Dennis Jones, amounting to approximately 4.5 percent of the Rights Issue. To the extent the Rights Issue was not fully subscribed, a consortium of guarantors, including board member David Chew, agreed to subscribe and pay for units in the Rights Issue up to an aggregate subscription rate corresponding of 28 percent of the Rights Issue (the "Bottom Guarantee Commitments"). The consortium providing the Bottom Guarantee Commitments received a 15 percent underwriting fee. In addition, the Company and Fenja Capital (the "Top Guarantor") agreed that the Top Guarantor would subscribe and pay for units in the Rights Issue up to 13.9 percent of the Rights Issue (the "Top Guarantee Commitment"). The Top Guarantor received an 8 percent underwriting fee.
Further information about the subscription commitments, the Bottom Guarantee Commitments and the Top Guarantee Commitment is set out in the Prospectus.
Convertible Loan
The Top Guarantee Commitment was fulfilled through the partial set-off of NOK 5,514,472 of the Company's convertible loan, which was outstanding at the time of the Top Guarantee Commitment and amounted to NOK 10,514,472 (the "2023 Convertible Loan"). In addition, the accrued interest under the 2023 Convertible Loan, coupled with NOK 1,000,000 from the 2023 Convertible Loan, has been set-off against the Top Guarantor's commitment under the Bottom Guarantee Commitments.
The remaining balance of the 2023 Convertible Loan, in addition to an arrangement fee of NOK 200,000, in total NOK 4,200,000, has been extended in the form of a new convertible loan, which was resolved issued by the Company's board of directors on 23 December 2024, in accordance with the authorization from the Company's extraordinary general meeting on 3 December 2024.
The Company has also issued 60,000,000 contractual stock options to the Top Guarantor (the "Stock Options"). The Stock Options can be exercised up until 31 December 2026 and each Stock Option entitles to subscribe to one (1) new share in Zwipe at a price of 70 percent of VWAP during the ten trading days that immediately precede every third month-end, starting in April 2025, however no lower than the quota value of the Company's share and not higher than 150 percent of the subscription price in the Rights Issue. The Stock Options can be exercised on 30 April 2025 at the earliest. The issuance of shares upon exercise of the Share Options is contingent upon either a resolution by the Company's general meeting to issue the corresponding shares in accordance with the Norwegian Private Limited Liability Companies Act, or the Company's board of directors issuing the shares pursuant to an authorization granted under the Norwegian Private Limited Liability Companies Act.
For further information contact:
Robert Puskaric, CEO of Zwipe
E-mail: ir@zwipe.com
This information is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo (Euronext Growth Oslo Rule Book - Part II) and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se. The information was submitted for publication, through the agency of the contact person set out below, at 07:00 CET on 20 January 2025.
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit:
http://www.zwipe.com
IMPORTANT NOTICE
Publication, release or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where this press release has been made public or distributed should be informed of and follow such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer or solicitation to buy or subscribe for any securities in Zwipe in any jurisdiction, either from Zwipe or from anyone else.
This press release is not a prospectus according to the definition in Regulation (EU) 2017/1129 (the "Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. A prospectus will be prepared by the Company and published on the Company's website after the prospectus has been reviewed and approved by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen).
This press release does not constitute an offer or solicitation to buy or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration, or without an exemption from registration, under the U.S. Securities Act from 1933 ("Securities Act"), and may not be offered or sold within the United States without being registered, covered by an exemption from, or part of a transaction that is not subject to the registration requirements according to the Securities Act. There is no intention to register any securities mentioned herein in the United States or to issue a public offering of such securities in the United States. The information in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, wholly or in part, in or to Australia, Belarus, Hong Kong, Japan, Canada, New Zealand, Russia, Switzerland, Singapore, South Africa, the United States or any other jurisdiction where the release, publication or distribution of this information would violate current rules or where such an action is subject to legal restrictions or would require additional registration or other measures beyond those that follow from Swedish and Norwegian law. Actions in contravention of this instruction may constitute a violation of applicable securities legislation.
Offers to the public will be permitted in Sweden and Norway from and including the date of approval of the prospectus by the competent authority in Sweden and the competent authority in Norway has been notified in accordance with the Prospectus Regulation, through to and including the end of the subscription period in the Rights Issue.
Forward-looking statements
This press release contains forward-looking statements related to the Company's intentions, estimates or expectations with regard to the Company's future results, financial position, liquidity, development, outlook, estimated growth, strategies and opportunities as well as the markets in which the Company is active. Forward-looking statements are statements that do not refer to historical facts and can be identified by the use of terms such as "believes," "expects," "anticipates," "intends," "estimates," "will," "may," "implies," "should," "could" and, in each case, their negative, or comparable terminology. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there is no guarantee that they will occur or that they are correct. Since these assumptions are based on assumptions or estimates and involve risks and uncertainties, actual results or outcomes, for many different reasons, may differ materially from those what is stated in the forward-looking statements. Due to such risks, uncertainties, eventualities and other significant factors, actual events may differ materially from the expectations that expressly or implicitly are contained in this press release through the forward-looking statements. The Company does not guarantee that the assumptions which serve as a basis for the forward-looking statements in this press release are correct, and each reader of the press release should not rely on the forward-looking statements in this press release. The information, opinions and forward-looking statements that expressly or implicitly are stated herein are provided only as of the date of this press release and may change. Neither the Company nor any other party will review, update, confirm or publicly announce any revision of any forward-looking statement to reflect events that occur or circumstances that arise with respect to the contents of this press release, beyond what is required by law or Euronext Growth Oslo or Nasdaq First North Growth Market's rules for issuers.
Reference is made to the stock exchange announcement published by Zwipe AS (the "Company") on 23 December 2024 regarding the final allocation of a rights issue of units, consisting of shares and warrants, with preferential rights for existing shareholders raising gross proceeds of approximately NOK 40 million (the "Rights Issue").
The share capital pertaining to the Rights Issue has now been registered with the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret). The Company's new share capital is NOK 27,772,584.80, divided into 277,725,848 shares, each with a nominal value of NOK 0.10.
For further information contact:
Robert Puskaric, CEO of Zwipe
E-mail: ir@zwipe.com
This information is information that Zwipe AS is obligated to make public pursuant to the continuing obligations of companies admitted to trading on Euronext Growth Oslo (Euronext Growth Oslo Rule Book - Part II) and on Nasdaq First North Growth Market. Certified Adviser on Nasdaq First North is FNCA Sweden AB, info@fnca.se. The information was submitted for publication, through the agency of the contact person set out below, at 15.30 on 17 January 2025.
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card and wearables technology for payment and physical & logical access control and identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway, with a global presence.
To learn more, visit http://www.zwipe.com
APOPKA, FLORIDA AND OSLO, NORWAY– January 13, 2025 – ReddWare Inc. and Zwipe announced today that they have entered into a strategic alliance. This collaboration aims to introduce advanced biometric access control solutions to ReddWare’s most important customer vertical, its Enterprise Systems Integrators.
The core innovation of this partnership is the Zwipe Access biometric smart cards. Zwipe’s biometric smart cards store encrypted fingerprint templates directly on the card's chip. This solution provides a quick, secure, and cost-effective way to integrate biometric authentication into existing access control systems. Notably, the biometric data never leaves the card during authentication, enhancing security and ensuring privacy by avoiding external data transmission. This partnership represents a significant advancement in the field of secure access control for the marketplace.
“Under the agreement, ReddWare’s global Enterprise Systems Integrators will have access to Zwipe’s innovative biometric access cards along with ReddWare’s extensive deployment engineering services. The cards offer two-factor authentication by integrating biometrics, eliminating the need for a separate fingerprint reader. The benefit of becoming a ReddWare Enterprise Systems Integrator is that as your business grows, the quality assurance of the systems you deploy remains consistent. This is our unique value proposition.” said Rommel Roberts, CEO ReddWare Inc.
“Innovation in access control is paramount, especially in today’s fast-evolving landscape. With ReddWare Inc. as our partner, we are proud to support the deployment of Zwipe Access cards in the United States, reinforcing our commitment to delivering an additional layer of security in critical environments,” said Robert Puskaric, President and CEO of Zwipe.
About ReddWare, Inc.
ReddWare Inc. delivers IOT software development & a high performance line of computer hardware built on the world famous Supermicro chassis. ReddWare brings over ten years of listening, observing, testing and customization for Avigilon, Genetec, IndigoVision, Milestone, Qognify and other leading surveillance platforms. These machines are the ultimate surveillance storage hardware, designed for high performance.
To know more, visit https://reddwareinc.com/ or contact 407-901-3192 X105
About Zwipe
Zwipe believes the inherent uniqueness of every person is the key to a safer future. We work with great passion across networks of international organizations, industries and cultures to make convenience safe and secure. We are pioneering next-generation biometric card technology for payment, physical and logical access control as well as identification solutions. We promise our customers and partners deep insight and frictionless solutions, ensuring a seamless user experience with our innovative biometric products and services. Zwipe is headquartered in Oslo, Norway with a global presence.
To know more, visit http://www.zwipe.com
